ExxonMobil has released its 2023 financial results, celebrating a year of consistency, growth and success.
“Our consistent strategy and execution excellence across the business delivered industry-leading earnings and enabled us to return more cash to shareholders than our peers in 2023,” ExxonMobil chairman and chief executive officer Darren Woods said.
“These results demonstrate the fundamental improvements we’ve made to our business, reflecting our progress in high-grading our portfolio through investments in advantaged projects and select divestments, while, at the same time, driving a higher level of efficiency and effectiveness throughout the business.”
Sustainability and lithium were two areas of focus for ExxonMobil in 2023, as the company progressed its plan to achieve net-zero greenhouse gas emissions in the Permian Basin by 2030.
This included electrifying all of the ExxonMobil’s drilling fleet and replacing over 6000 natural gas-driven pneumatic devices.
In the lithium space, ExxonMobil announced its new Mobil Lithium business, unveiling plans to become a leading producer and grow US-based supplies of lithium for the global battery and electric vehicle markets.
ExxonMobil is planning first production for 2027.
“The foundation of our success comes from the resiliency, hard work and commitment of our people,” Woods said.
“As I reflect on our industry-leading results over the past year, I have a great sense of pride in what our people accomplished.”
ExxonMobil is the operator of PNG LNG, a liquified natural gas project connected by over 700km of onshore and offshore pipeline near Port Moresby.
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